Today, clean energy stocks are on the move. Investors appear willing to bet President Joe Biden’s infrastructure plan will have direct impact on a number of stocks in this sector. Indeed, a number of clean energy ETFs are also up broadly today on this news.
Biden’s American Jobs Plan highlights six key areas of targeted investment for this round. These include:
- Fixing and rebuilding highways, bridges, ports, airports and other transportation systems.
- Delivering clean drinking water, a renewed electric grid, and high-speed broadband to all Americans.
- Building, preserving, and retrofitting more than 2 million homes and commercial buildings, modernizing our nation’s schools and child care facilities, and upgrading veterans’ hospitals and other federal buildings.
- Solidifying the infrastructure of the U.S. care economy by creating jobs and raising wages and benefits for essential home care workers.
- Revitalizing manufacturing and securing U.S. supply chains.
- Creating good-quality jobs that pay prevailing wages in safe and healthy workplaces.
Here are a few stocks investors have on their radar right now.
Clean Energy Stocks to Watch
- Gevo (NASDAQ:GEVO) is a company in the renewable fuels space. The company commercializes jet fuel, diesel and gasoline to achieve zero-carbon emissions.
- ChargePoint (NYSE:CHPT) is an EV charging infrastructure company. ChargePoint recently went public via a highly anticipated SPAC.
- Blink Charging (NASDAQ:BLNK) is a competitor to ChargePoint in the EV charging space. Both Blink and ChargePoint are gaining momentum from a Biden promise to make a $174 billion investment in electric vehicles.
- Lithium Americas (NYSE:LAC) is a company engaged in lithium exploration. As a key battery component, lithium miners have gotten a lot of attention as an indirect play on the EV sector. Given the company’s explorative nature, it’s a higher-leverage play on this sector.
- Sunworks (NASDAQ:SUNW) is a solar power play. This company provides photovoltaic power systems for industrial and residential use. The company currently operates in six states and is also a higher-leverage play on the solar power space.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.